Answer:
[tex] \boxed{ \bold{ \huge{ \boxed{ \sf{ \: 14.25 \: \% \: }}}}}[/tex]
Step-by-step explanation:
Given,
Principal ( P ) = $ 6000
Amount ( A ) = $ 14550
Time ( T ) = 10 years
Rate ( R ) = ?
Finding the Interest
The sum of principal and interest is called an amount.
From the definition,
[tex] \boxed{ \sf{Amount = \: Principal + Interest}}[/tex]
plug the values
⇒[tex] \sf{14550 = 6000 + Interest}[/tex]
Swap the sides of the equation
⇒[tex] \sf{6000 + Interest = 14550}[/tex]
Move 6000 to right hand side and change its sign
⇒[tex] \sf{Interest = 14550 - 6000}[/tex]
Subtract 6000 from 14550
⇒[tex] \sf{Interest = \: 8550 \: }[/tex]
Interest = $ 8550
Finding the rate
[tex] { \boxed{ \sf{Rate = \frac{Interest \times 100}{Principal \times Time}}}} [/tex]
plug the values
⇒[tex] \sf{ Rate = \frac{8550 \times 100}{6000 \times 10} }[/tex]
Calculate
⇒[tex] \sf{Rate = \frac{855000}{60000} }[/tex]
⇒[tex] \sf{Rate = 14.25 \: \% \: }[/tex]
Hope I helped!
Best regards!!
